Bona fide disclosure requirements govern under-reporting penalties, and post-penalty immunity applications cannot secure available statutory protectio...
Certificate-of-origin verification procedure governs preferential customs benefits; denial without retroactive verification was set aside with consequ...
Disciplinary Committee jurisdiction and mandatory investigation requirements invalidated cancellation of an insolvency professional's registration and...
Retention of seized property survives where recorded reasons support proceeds of crime, while stayed investigation periods are excluded from limitatio...
Belated homebuyer claims reflected in the corporate debtor's records were not defeated by delay where the Resolution Professional showed no notice to the claimants, their registered agreement to sell and allotment details were available in the virtual data room, and the CIRP overlapped substantially with the Covid period; the claim was ordered to be admitted by addendum to the resolution plan. The Tribunal further held that purchasers with a registered agreement and recorded payment history were genuine homebuyers, not speculative investors, and therefore belonged in Category A of the plan. As the rival claimant sought refund with interest on assured-return reservation letters, the appellants were treated as having the superior claim and the impugned order was set aside.
Belated homebuyer claims reflected in the corporate debtor's records were not defeated by delay where the Resolution Professional showed no notice to the claimants, their registered agreement to sell and allotment details were available in the virtual data room, and the CIRP overlapped substantially with the Covid period; the claim was ordered to be admitted by addendum to the resolution plan. The Tribunal further held that purchasers with a registered agreement and recorded payment history were genuine homebuyers, not speculative investors, and therefore belonged in Category A of the plan. As the rival claimant sought refund with interest on assured-return reservation letters, the appellants were treated as having the superior claim and the impugned order was set aside.
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